DUISBURG (dpa-AFX) - Shares of Thyssenkrupp were gaining around 6 percent in German trading after the conglomerate reported Thursday a profit in its fourth quarter from continuing operations, compared to last year's loss, with strong growth in net sales and order intake. Net profit, meanwhile, was sharply lower due to the absence of prior year's gain. Looking ahead for fiscal 2022, the company projects significant growth in earnings.
Martina Merz, CEO of thyssenkrupp, said, 'After a good two years of intensive transformation work, we can now say that the turnaround is evident. thyssenkrupp is going in the right direction. Our performance is improving significantly, which is reflected in our figures. .. However, enormous challenges remain, especially due to the semiconductor shortage and the uncertainties arising from the coronavirus pandemic.'
For fiscal 2022, thyssenkrupp expects net income of at least 1 billion euros, which would be the highest since fiscal year 2007/2008.
Adjusted EBIT is anticipated to about double year-on-year to between 1.5 billion euros and 1.8 billion euros, benefited by a significant improvement in earnings at Steel Europe and a substantially lower loss at Multi Tracks.
Group sales are expected to grow by a mid-single-digit percentage.
In the year 2021, net loss attributable to shareholders was 115 million euros, and net loss from continuing operations was 19 million euros. Full-year adjusted EBIT was 796 million euros, and net sales were 34.02 billion euros.
For the fourth quarter, net profit attributable to shareholders was 116 million euros, lower than prior year's 11.58 billion euros profit a year ago. Earnings per share plunged to 0.19 euro from 18.61 euros last year. The prior year's results included a profit from the sale of the Elevator business.
On a continuing operations basis, net profit was 105 million euros, compared to loss of 3.58 billion euros last year. Earnings per share were 0.17 euros, compared to prior year's loss of 5.75 euros.
Adjusted EBIT was 232 million euros, compared to negative 530 million euros last year. Adjusted EBIT margin improved to 2.5 percent from negative 6.7 percent a year ago.
Net sales grew 19 percent to 9.44 billion euros from 7.95 billion euros last year. Sales from continuing operations climbed 30 percent.
Order intake climbed 59 percent to 14.31 billion euros from 9 billion euros last year, while the growth was 71 percent on a continuing operations basis.
In Germany, thyssenKrupp shares were trading at 10.79 euros, up 5.84 percent.
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